How Big is Esports Betting?

Esports has quickly become a popular form of entertainment around the world, attracting millions of viewers everywhere. This rise in popularity has made stars out of professional gamers and given rise to a thriving industry focused on betting in esports. In this article, we will explore how big is esports betting, shedding light on its growth and its current status.

The Explosive Growth of Esports Betting

Esports betting, like the industry itself, has experienced explosive growth in recent years. As traditional sports faced disruptions due to the COVID-19 pandemic, esports managed to maintain its momentum and attract an even larger audience. According to Statista, in 2024, the projected revenue in the Esports Betting market is estimated to reach US$2.5bn, showcasing the big potential of this industry.

History of Esports Betting

To understand the magnitude of this growth, we can take a look at the history of esports betting. A significant milestone in this journey was the emergence of dedicated esports betting platforms, such as Pinnacle. In 2010, Pinnacle became one of the first bookmakers to offer esports odds. This marked the beginning of a decade-long journey that saw esports betting evolve from a niche activity into a global industry.

Esports Insider reports that in 2011, Pinnacle’s total esports betting volume was just over $500,000. Fast forward to 2021, and this figure had skyrocketed to an astonishing $23 billion. This ten-year history of exponential growth underscores the immense popularity of esports betting, making it one of the most dynamic segments of the betting industry.

Factors Driving the Growth

Several factors have contributed to the remarkable growth of esports betting:

• Broadening Audience: Esports has transcended geographical boundaries, attracting fans from all over the world. This diverse audience base fuels the demand for betting on esports events.
• Increased Accessibility: Esports tournaments and matches are readily available for streaming online, usually for free. This accessibility has made it easier for fans to follow the action and place bets in real-time.
• Professionalism: Esports organizations and players have become more professional, resulting in higher-quality events and a more reliable betting experience.
• Sponsorships and Partnerships: The involvement of major brands and corporate sponsorships has injected substantial financial resources into the esports ecosystem, increasing its overall profile.

Is Esports Betting Rigged?

Despite its remarkable growth, esports betting faces several challenges. One of the primary concerns is the potential for match-fixing and corruption, similar to problems seen in other sports betting markets. Esports organizations and regulators are working hard to put in place rules and protections to keep the competitions fair and honest. At the same time, people looking for a good place to bet are choosing the best esports betting sites that are known for being safe and following all the rules.

Additionally, the regulatory landscape for esports betting is still evolving. Different countries have varying approaches to the legality of esports gambling, leading to a patchwork of regulations worldwide. Clear and consistent regulations are essential to ensure the industry’s sustainability and to protect consumers.

So How Big is the Esports Betting Industry?

Esports betting is undeniably a massive and growing industry. With billions of dollars in play and a dedicated fan base, it has firmly established itself as a significant segment of the global betting market. The industry’s explosive growth over the past decade is a testament to the enduring appeal of esports and the opportunities it presents for both fans and investors. As of 2022, the market was valued at approximately $9.9 billion and is projected to soar to around $33 billion by 2032.

This expansion is driven by several factors, including the increasing popularity and mainstream acceptance of esports, technological advancements in online betting platforms, and the growing number of esports events. Regions like North America, Europe, and Asia-Pacific are leading the market, with North America and Asia-Pacific experiencing the fastest growth due to high engagement levels and regulatory developments​.